Major upgrade on the way for South Africa

• South Africa’s fiscal performance needs to continue to improve for a credit-rating upgrade by Moody’s, according to the agency’s vice president Evan Wohlmann.
• The country has reached an inflexion point after stabilising its debt and delivering pro-growth economic reforms, with a baseline forecast for debt to peak at 87% of GDP and decline to 84% of GDP by the end of the decade.
• Moody’s sees a low risk of politics pushing South Africa away from its reform path, with the agency upgrading about 60% of sovereign credits with a positive outlook.